$630,000: Orange County median home price in December is best since Great Recess

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$630,000: Orange County median home price in December is best since Great Recession

Jan. 19, 2016 Updated 10:46 a.m.

Orange County?s housing market ended 2015 on an up note, with the highest prices since the recession and the biggest December sales tally in a decade, housing tracker CoreLogic reported Tuesday.

The median price of an Orange County home, or the price at the midpoint of all sales, was $630,000 in December, the Irvine-based data firm reported. That?s up 8.2 percent, the highest home-price appreciation rate in more than a year.

That?s also the highest median price for any month since the housing bubble of the early 2000?s burst eight years ago, and is just 2.3 percent the all-time high of $645,000 reached in June 2007.

In addition, 3,206 houses, condos and townhomes ? new and existing ? changed hands last month, up 13.8 percent. That?s the highest sales tally for any month since July and the most for a December since 2005.

Home prices and sales also soared throughout the rest of Southern California, CoreLogic reported.

The region?s median home price was up 6.7 percent year-over-year to $443,000, the highest since October 2007.

Southern California home sales increased 9.8 percent to 20,890 transactions, the most for any December since 2009.

Price and sales gains were recorded as well in all six Southern Californian counties, although Orange County recorded the biggest percentage gains in both categories.

Elsewhere, prices were up from 3.4 percent in Ventura County to 8.1 percent in Los Angeles County. Sales rose from 7.9 percent in Ventura County to 11.4 percent in San Bernardino County.

Contact the writer: 714-796-7734 or jcollins@ocregister.com
 
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